Genworth MI Canada (TSE:MIC) Price Target Raised to C$58.00 at TD Securities

Genworth MI Canada (TSE:MIC) had its price target increased by TD Securities from C$56.00 to C$58.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price objective points to a potential upside of 1.84% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. CIBC dropped their target price on shares of Genworth MI Canada from C$57.00 to C$56.00 in a research note on Thursday, October 31st. Scotiabank lifted their price objective on Genworth MI Canada from C$55.00 to C$56.00 in a report on Friday. Finally, National Bank Financial upped their price objective on Genworth MI Canada from C$54.00 to C$58.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th.

MIC traded down C$0.06 during trading on Friday, reaching C$56.95. The stock had a trading volume of 59,318 shares, compared to its average volume of 174,475. The company has a current ratio of 0.32, a quick ratio of 0.28 and a debt-to-equity ratio of 11.57. The company has a market capitalization of $4.92 billion and a price-to-earnings ratio of 12.55. The stock’s 50 day moving average is C$54.26 and its two-hundred day moving average is C$48.88. Genworth MI Canada has a one year low of C$38.18 and a one year high of C$57.84.

In related news, Senior Officer Robert John Piroli sold 520 shares of Genworth MI Canada stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of C$54.39, for a total transaction of C$28,282.80. Following the transaction, the insider now owns 174 shares in the company, valued at approximately C$9,463.86. Also, Director Brian Leo Hurley sold 60,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of C$52.07, for a total transaction of C$3,124,200.00. Following the completion of the transaction, the director now directly owns 73,028 shares of the company’s stock, valued at approximately C$3,802,567.96.

About Genworth MI Canada

Genworth MI Canada Inc, through its subsidiaries, operates as a private residential mortgage insurer in Canada. It provides mortgage default insurance to residential mortgage homebuyers, lenders, brokers, and realtors. The company was founded in 1995 and is headquartered in Oakville, Canada.

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